Applied Economics comprises of four major constituents; public policy, technology and environmental economics, contemporary economy and economic policy.
This unit explains the role the government in the economy. This unit is further subdivided into; public finance, public economics, public policy and local finance.
Economy policy constitutes; industrial economics, international economics, labor economics and development economics. This unit is characterized by a robust policy orientation and each constituent analysis the policy implications. The industrial economics uses the microeconomics theory to analyze corporate strategies and organization as well as market structures. International economics focuses on the international transactions, including; the balance of payments, trade policy, and exchange rates. Labor economics integrates both the microeconomic theory and econometrics. Lastly, development economics analyses the economic development process, policies development and economics of the developing countries.
This unit covers areas of modern society and market economy. The constituents of this unit include; domestic and international economies, financial economics and health and welfare economics.
Technology and environmental economics
It empirically and theoretically analyses the economics of natural resources and technology and environment. Environmental economics studies the interaction between the economy and the environment and the issues involved such as policies, threats, and opportunities. Resource economics identifies and analyses issues connected to natural resources such as; environment protection, resource policies, and resource extraction. Technology in economics explores the innovations and their impact on modern economic activities. Also, research and development are extensively carried out through case studies.